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Koito Manufacturing fiscal Q4 profit climbs 27.8% YOY

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Koito Manufacturing fiscal Q4 profit climbs 27.8% YOY

Koito Manufacturing Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥74.99 per share, a gain of 27.8% from ¥58.67 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥12.05 billion, an increase of 27.8% from ¥9.43 billion in the prior-year period.

The normalized profit margin climbed to 5.9% from 5.4% in the year-earlier period.

Total revenue grew 17.2% year over year to ¥204.50 billion from ¥174.53 billion, and total operating expenses grew 18.2% from the prior-year period to ¥182.81 billion from ¥154.63 billion.

Reported net income decreased 6.0% from the prior-year period to ¥9.83 billion, or ¥61.15 per share, from ¥10.45 billion, or ¥65.05 per share.

For the year, the company's normalized net income totaled ¥205.25 per share, compared to EPS of ¥151.78 in the prior year.

Normalized net income was ¥32.98 billion, a rise from ¥24.39 billion in the prior year.

Full-year total revenue rose from the prior-year period to ¥706.47 billion from ¥597.50 billion, and total operating expenses grew on an annual basis to ¥642.32 billion from ¥548.00 billion.

The company said reported net income rose on an annual basis to ¥36.06 billion, or ¥224.40 per share, in the full year, from ¥21.38 billion, or ¥133.03 per share.

As of June 29, US$1 was equivalent to ¥122.67.